SunSirs: China NBR Market Rose slightly (July 12-16)

　　The market of NBR rose slightly last week (7.12-7.16). According to the monitoring of SunSirs, as of July 16, the price of NBR was 21,100 RMB/ ton, up 0.64% from 20,966 RMB/ ton at the beginning of the week.

　　The ex-factory price of NBR in China has been raised. According to the monitoring of SunSirs, as of July 16, the ex factory price of NBR N41E in Lanzhou Petrochemical Company was 19,200 RMB/ ton; 3305E was 20,300 RMB/ ton; 3308E quoted 21,200 RMB/ ton; Ningbo Shunze 65,000 ton/ year plant is in normal operation, and the manufacturer has a large inventory. The ex-factory price of NBR 3355/ 3365 is 20,800 RMB/ ton, and the ex-factory price of NBR 3380 is 21,300 RMB/ ton. Since July, high temperature weather appears, electricity consumption peaks appears in Jiangsu, Zhejiang, Guangdong and Henan, and some downstream enterprises start-up decline, with weak demand side support.

　　The price of raw material butadiene rose sharply, and the cost side was more supportive. According to the monitoring of SunSirs, as of July 16, butadiene price was 10,876 RMB/ ton, up 13.58% from 9,576 RMB/ ton at the beginning of the week.

　　SunSirs NBR analysts believe that the demand side support is weak, but the cost side support is strong, and China NBR market is expected to rise slightly in the future.